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South Bend Redevelopment Commission <br />Regular Meeting - May 21, 1999 <br />6. NEW BUSINESS <br />Mrs. Kolata asked permission to add ITEM 61. WAS ADDED TO THE AGENDA <br />item 6.f. to the agenda. There was no <br />objection and item 6.f. was added to the <br />agenda. <br />a. Commission approval requested for <br />Resolution No. 1683 approving an <br />application for real property tax <br />deduction for properties at 638, 709, <br />713, 716, 717, 724, 725 and 728 <br />Pennsylvania in the Sample -Ewing <br />Development Area. (Board of Public <br />Works and American Home Dreams, <br />Inc.) <br />American Home Dreams, Inc. will <br />construct more than twenty homes <br />throughout the site. The homes will be <br />not less than 1,500 sf each, with up to 3 <br />bedrooms, 2'/2 baths, a full finished <br />basement and a one or two car garage. <br />The sale price of each home will be <br />around $70,000 to $75,000 and the <br />homes will be available to low -and- <br />moderate income first -time home <br />buyers. Qualified buyers will also be <br />eligible for a mortgage subsidy of <br />between $15,000 and $17,000 through <br />the St. Joseph County Housing <br />Assistance Office. The total cost of the <br />homes is expected to exceed $1.4 <br />million (excluding land). <br />A review of the tax abatements <br />previously granted finds that the Board <br />of Public Works has been a co- <br />petitioner with several other entities, <br />which have been granted tax abatement. <br />HAWPDATA \C0MMSM052199.MIN -5- <br />